American Bankers Association Exam CRCM Topic 9 Question 92 Discussion

Actual exam question for American Bankers Association's CRCM exam

Question #: 92
Topic #: 9

[All CRCM Questions]

John and Elise Fernandez apply to ABC Bank for a loan to purchase a manufactured home. ABC Bank is a community bank with approximately $100 million in assets, and the home would be located outside of the bank's metropolitan are a. Mr. and Mrs. Fernandez complete an in-person application for a mobile home that is denied by the bank due to insufficient income. Which piece of information on the Fernandez application is ABC Bank NOT required to report on its HMDA LAR?

AThe ethnicity of the applicants

BThe race of the applicants

CThe purpose of the loan application

DThe metropolitan area where the home will be located

Show Suggested Answer

Suggested Answer: A

by Crissy at Jul 07, 2024, 09:22 PM

Limited Time Offer

25%

Off

Get Premium CRCM Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Anika

14 days ago

But what about the purpose of the loan application? Wouldn't that be important for reporting?

upvoted 0 times

...

Vicente

16 days ago

I agree with Otis, the bank wouldn't need to report that information.

upvoted 0 times

...

Otis

23 days ago

I think the answer is D, the metropolitan area where the home will be located.

upvoted 0 times

...